Huawei announced last month that its sales revenue in the first six months of 2013 reached 113.8 billion yuan ($18.4 billion), up 10.8 per cent year on year.

“From these positive indicators, we believe Huawei will generate strong performance and profit margins in the second half of this year and are confident that we will achieve our goal to increase revenue by 10 percent,” said Huawei’s CFO Cathy Meng.

Huawei is a leading global information and communications technology (ICT) solutions provider founded in China’s Shenzhen city in 1987 – its products and services are used in over 140 countries around the world.

The company jumped to 315th on the 2013 Fortune Global 500 list from 351st a year ago surpassing Stockholm-based Ericsson in the rankings with increased revenues and earnings propelled by smartphone sales.

57 founding members, many of them prominent US allies, will sign into creation the China-led Asian Infrastructure Investment Bank on Monday, the first major global financial instrument independent from the Bretton Woods system.

Representatives of the countries will meet in Beijing on Monday to sign an agreement of the bank, the Chinese Foreign Ministry said on Thursday. All the five BRICS countries are also joining the new infrastructure investment bank.

The agreement on the $100 billion AIIB will then have to be ratified by the parliaments of the founding members, Chinese Foreign Ministry spokesman Lu Kang said at a daily press briefing in Beijing.

The AIIB is also the first major multilateral development bank in a generation that provides an avenue for China to strengthen its presence in the world’s fastest-growing region.